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Office Market News

CBRE: Only 5 pct of the modern retail stock to undergo complete renovation

Only 5 pct of the modern retail stock underwent complete renovation, while 15 pct of the stock only suffered few modifications, considering that almost 40 pct. of the total modern commercial area is functional for more than 6 years and needs repositioning or renovations, said Luiza Moraru, head of retail and asset services within CBRE Romania.

Kaufland expands its network with two new hypermarkets in Arad and Bucharest

Kaufland Romania, the owner of the largest hypermarket network on the local market, will open in August two new units, in Arad and Bucharest, in Bucureştii Noi district, reaching 94 units on the local market, according to the company.

Ponta: the foreign direct investments continued to grow in first months of 2014

Prime Minister Victor Ponta at the Victoria Palace on Tuesday said that the foreign direct investments continue to grow in the first months of this year, which allows a sustainable and stable growth, after which in 2011 they registered the lowest level over the past 15 years.

Company buildings to be taxed according to market value

The government will conduct a radical change in the way that companies are taxed for their buildings, writes Mediafax. At the moment, companies are charged by the State according to the official value established by accounting documents. The state wants buildings to be taxed based on an outside evaluation report, similar to market value, which would then lead to building taxes increasing.

Rented offices reached 132,000 sq. m in H1, 27 pct. growth compared to 2013

The office area transacted in Bucharest in H1 2014 totalized 132,000 sq. m, with 27 pct. growth compared to the similar period of last year, most of the transactions being completed for existing buildings, respectively 40 pct of the total.

Swan Offices didn’t reach any sale agreement

The creditors will adopt a new sale strategy for the bankrupt Swan office complex in Pipera-Tunari, as on Friday, the scheduled date for the appointment of the winner following the direct negotiation, the liquidator did not reach any agreement with the interested investors, Mediafax informs.

Hochland relocate its Bucharest office to Magheru One

German group Hochland, with a turnover exceeding EUR 49 million on the local market last year, rented 470 sq. m within the office building Maghe­ru One downtown Bucharest, where it will relocate its sales, marketing and supply chain departments which are currently hosted by a building in Floreasca area.

Coresi Brasov, 60 pct ready: the mall should reach annual revenues of more than EUR 5 million in 3-5 years

Coresi Brasov commercial centre, developed by Immochan, is 70 pct rented 8 months before the opening.

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